October 2018
Nonprofits are well aware that the Tax Cuts and Jobs Act (TCJA) of 2017 will alter the use of charitable contributions normally made to gain of charitable deductions. After all, the Act nearly doubled the standard deduction, making it much more unlikely that taxpayers will itemize their tax returns to take a deduction for such contributions. But the law also modified provisions of the unrelated business income tax (UBIT) that could directly impact the finances of tax-exempt organizations.
